The firm’s licensee services business was a “standout” despite weaker results in FY23, says CEO Garry Crole, with attracting existing advisers a key focus in this financial year.

The former ASIC chair has penned an open letter to the Treasurer and Assistant Treasurer asking for their support following a Senate appearance that detailed work, health and safety failures at the corporate regulator.

The global asset manager has extended its financial services licence to include retail investors, representing the next stage of its expansion in the Australian market.

The investment manager has appointed Tushar Kale as its new chief financial officer following the departure of Andrew Plum at the end of June.

Spire Capital and Oaktree Capital Management have developed a fund for wholesale investors to access credit and special situation investments.

The regulator has made an interim stop order on a registered managed fund promoted by K2 Asset Management due to deficiencies in the target market determination.

Agreeing that the AI hype is real, managers are opting for various levels of exposure to make the most of the current rally, but they argue real results will be seen in the long term.